We've been building in the NFT space for 3+ years now.
Highlight has hosted every kind of project imaginable.
It's open and permissionless -- that's the strength of digital. We have standard T&Cs, but our goal has always been to make it straightforward for anyone to create on-chain.
The main constraint is demand. For various reasons, it has declined rather than grown over the past few years.
Currently, the viable business models are operating a large-scale marketplace or charging fees (20-40%) for artist collaborations. In an expanding market, both can work well. In a contracting one, they're more challenging, but markets cycle.
There's a fair amount of unfocused optimism--hope without strategy--about what might turn things around.
I'm confident NFTs will advance, conditions will improve, and the market will return stronger than expected.
Over the next 12-24 months, though, it's unclear how that happens without significant catalysts.
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